Correlation Between Us Energy and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between Us Energy Initiative and HUMANA INC, you can compare the effects of market volatilities on Us Energy and HUMANA and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Us Energy with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Us Energy and HUMANA.
Diversification Opportunities for Us Energy and HUMANA
Pay attention - limited upside
The 3 months correlation between USEI and HUMANA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Us Energy Initiative and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Us Energy is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Us Energy Initiative are associated (or correlated) with HUMANA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUMANA INC has no effect on the direction of Us Energy i.e., Us Energy and HUMANA go up and down completely randomly.
Pair Corralation between Us Energy and HUMANA
If you would invest 0.00 in Us Energy Initiative on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Us Energy Initiative or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Us Energy Initiative vs. HUMANA INC
Performance |
| Timeline |
| Us Energy Initiative |
| HUMANA INC |
Us Energy and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Us Energy and HUMANA
The main advantage of trading using opposite Us Energy and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Us Energy position performs unexpectedly, HUMANA can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in HUMANA will offset losses from the drop in HUMANA's long position.| Us Energy vs. HUMANA INC | Us Energy vs. Barloworld Ltd ADR | Us Energy vs. Morningstar Unconstrained Allocation | Us Energy vs. Thrivent High Yield |
| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |